MIRA
INFORM REPORT
|
Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEERA COTTON AND SYNTHETIC MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-401/402, Express Zone, Patel Vanika, Opposite Reliance Energy Dindoshi Centre, W E Highway, Malad (East), Mumbai – 400097, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.04.1994 |
|
|
|
|
Com. Reg. No.: |
11-077662 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 44.994 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH1994PTC077662 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM8385J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The subject is engaged in the production and sales of texturised
yarn, woven and knitted fabrics and Garments |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. These ratings reflects Meera’s financial risk profile marked by high
gearing, weak debt protection metrics, and low profitability. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some
cautions. Note: Latest
financial for the year 2013, is not available with us. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
Uptick in agriculture
and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of payments
is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of 18.4
% between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB+” |
|
Rating Explanation |
Moderate risk of default and higher credit
risk. |
|
Date |
28.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating:”A4+” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
28.10.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management non-cooperative
Tel. No.: 91-22-67424600
LOCATIONS
|
Registered Office : |
A-401/402, Express Zone, Patel Vanika, Opposite Reliance
Energy Dindoshi Centre, W E Highway, Malad (East), Mumbai – 400097,
Maharashtra, India |
|
Tel. No.: |
91-22-67424600 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 30.09.2012
|
Name : |
Mr. Jayesh Sevantilal Shah |
|
Designation : |
Director |
|
Address : |
301, Dwarkesh, Subhash Cross Lane, Kandivali (West), Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1959 |
|
Date of Appointment : |
12.04.1994 |
|
PAN No.: |
AAEPS5649D |
|
DIN No.: |
00371635 |
|
|
|
|
Name : |
Mr. Narendrabhai Rasiklal Shah |
|
Designation : |
Managing Director |
|
Address : |
7003, Turning Point Apartment, Near Majur Fire Station, Goddod Road, Surat – 395001, Gujarat, India |
|
Date of Birth/Age : |
29.03.1959 |
|
Date of Appointment : |
05.02.1997 |
|
DIN No.: |
02613029 |
|
|
|
|
Name : |
Mr. Ritesh Suresh Shah |
|
Designation : |
Director |
|
Address : |
B-67, 6th Floor, Vardhman Kutir, Shankar Lane, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1975 |
|
Date of Appointment : |
24.04.2009 |
|
PAN No.: |
ALTPS1668J |
|
DIN No.: |
02690691 |
|
|
|
|
Name : |
Mr. Jay Jayesh Shah |
|
Designation : |
Director |
|
Address : |
301-A Dwarkesh, Subhash Cross Lane, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
24.03.1990 |
|
Date of Appointment : |
10.08.2011 |
|
PAN No.: |
BWXPS7228E |
|
DIN No.: |
03597490 |
|
|
|
|
Name : |
Mr. Paurav Deepakkumar Shah |
|
Designation : |
Additional Director |
|
Address : |
C- 203 Chanakya Apartment, Mahavir Nagar, Dahnunkarwadi, New Link Road, Kandivali (West), Mumbai- 400067, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1979 |
|
Date of Appointment : |
05.04.2012 |
|
PAN No.: |
AFPPS64905 |
|
DIN No.: |
05221574 |
|
|
|
|
Name : |
Mr. Chirag R. Shah |
|
Designation : |
Additional director |
|
Address : |
Navkar Kim, Taluka Olpad, Surat – 394110, Gujarat, India |
|
Date of Birth/Age : |
14.09.1982 |
|
Date of Appointment : |
15.06.2010 |
|
DIN No.: |
00548435 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jayesh Seventilal Shah |
|
1776258 |
|
Veena Shah |
|
1255500 |
|
Meera J Shah |
|
300750 |
|
Jayesh S Shah ( HUF) |
|
42000 |
|
Jay J Shah |
|
899850 |
|
Ramila Suresh Shah |
|
180000 |
|
Paurav D Shah |
|
45000 |
|
Total |
|
4499358 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in the production and sales of texturised yarn, woven and knitted fabrics and Garments |
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Products : |
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PRODUCTION STATUS As on 31.03.2011
|
Particulars |
|
Unit |
Actual
Production |
|
PFY & Knitted Fabrics |
|
Kgs |
7506861 |
|
Electricity |
|
NA |
1.14 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Union Bank of India, Bhiwandi Branch, Ganpati Mandir Building, Prabhu Ali, Mandai, Bhiwandi, District Thane - 421302, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||
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|
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|
Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
L. K. Munoyat and Company Chartered Accountant |
|
Address : |
305 Mahaveer Apartments Opposite Shivsena Office, Station Road, Bhayandar (West), Mumbai – 401101, Maharashtra, India |
|
PAN.: |
AAEPM5862E |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4499358 |
Equity Shares |
Rs.10/- each |
Rs. 44.994
Millions |
|
|
|
|
|
Of the above, 2999572 equity shares, fully paid up have been issued as bonus shares by capitalization of the free balance in the Profit and Loss Account.
The Company has only one class of shares referred to as equity shares having a par value of Rs.5/-.Each holder of equity shares are entitled to one vote per share
Details of persons
holding more than 5% of the Shares
|
Particular |
Number |
% |
|
Jayesh Shah |
1776258 |
39.48 |
|
Veena Shah |
1255500 |
27.90 |
|
Jay Shah |
899850 |
20.00 |
|
Meera Shah |
300750 |
6.68 |
Reconciliation of
number of shares and amount
|
Particular |
Number |
Amount in
Millions |
|
Number of shares at the beginning |
1499786 |
14.998 |
|
Add: Bonus Shares issued during the year |
2999572 |
29.996 |
|
Number of shares at the closing |
4499358 |
44.994 |
The Board of
Directors declared an interim dividend of Rs. 0.22 per equity share Pro Rata on
increased share capital which is subject to the approval by the members in the
ensuing Annual General Meeting.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
44.994 |
14.998 |
14.998 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
113.356 |
125.487 |
113.496 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
158.350 |
140.485 |
128.494 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
345.220 |
183.726 |
141.046 |
|
|
2] Unsecured Loans |
31.463 |
7.822 |
2.457 |
|
|
TOTAL BORROWING |
376.683 |
191.548 |
143.503 |
|
|
DEFERRED TAX LIABILITIES |
26.276 |
18.105 |
13.086 |
|
|
|
|
|
|
|
|
TOTAL |
561.309 |
350.138 |
285.083 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
333.602 |
184.117 |
151.392 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
121.425
|
64.244 |
88.826 |
|
|
Sundry Debtors |
172.700
|
151.493 |
70.461 |
|
|
Cash & Bank Balances |
10.646
|
10.938 |
6.757 |
|
|
Other Current Assets |
25.036
|
20.240 |
0.000 |
|
|
Loans & Advances |
7.331
|
3.036 |
26.328 |
|
Total
Current Assets |
337.138
|
249.951 |
192.372 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
92.290
|
65.283 |
57.066 |
|
|
Other Current Liabilities |
9.291
|
13.220 |
0.000 |
|
|
Provisions |
7.850
|
5.427 |
1.615 |
|
Total
Current Liabilities |
109.431
|
83.930 |
58.681 |
|
|
Net Current Assets |
227.707
|
166.021 |
133.691 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
561.309 |
350.138 |
285.083 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1308.275 |
885.919 |
|
|
|
Other Income |
|
NA |
0.694 |
|
|
|
TOTAL |
|
NA |
886.613 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials consumed |
|
|
731.610 |
|
|
|
Expenses |
|
|
120.531 |
|
|
|
TOTAL |
|
NA |
852.141 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
NA |
34.472 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
NA |
9.899 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
37.695 |
24.573 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
9.614 |
9.353 |
|
|
|
|
|
|
|
|
|
Less |
LOSS OF SALE OF
ASSETS |
|
3.800 |
0.000 |
|
|
|
|
NA |
|
|
|
|
|
PROFIT BEFORE
TAX |
|
24.281 |
15.220 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
6.046 |
4.349 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
18.235 |
10.871 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
113.497 |
97.989 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR
DEFERRED TAX |
|
5.019 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR
DIVIDEND DISTRIBUTION TAX |
|
0.125 |
0.000 |
|
|
|
|
|
|
|
|
|
|
MAT CREDIT
AVAILABLE |
|
0.000 |
3.491 |
|
|
|
|
|
|
|
|
|
Less |
PREVIOUS YEARS'
INCOME TAX |
|
0.349 |
(1.895) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
0.000 |
0.749 |
|
|
|
Dividend |
|
0.750 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
125.489 |
113.497 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Sales Exported |
91.970 |
30.936 |
62.434 |
|
|
|
FOB Value of Sales in Process at the Dock |
4.072 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
96.042 |
30.936 |
62.434 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
62.349 |
7.012 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
10.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
1.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.86 |
1.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
5.59 |
4.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.17 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.38
|
1.36 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.08
|
2.98 |
3.28 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The registered office of the company has been shifted from 301 Dwarkeshsubhash Lane, Kandivali (West), Mumbai - 400067, Maharashtra, India to present address w.e.f. 22.09.2011
OVERVIEW
The company was incorporated on 12-04-1994 and is an LSI engaged in the production and sales of texturised yarn, woven and knitted fabrics and Garments. The industrial units of the company are located at Silvassa in the Union Territories of Dadra and Nagar Haveli and also at Bhiwandi in Maharashtra. The products of the are used as raw material for production of dress materials for end-apperal use.
UNSECURED LOAN
(Rs in Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Loans from related parties |
31.463 |
7.822 |
|
Total |
31.463 |
7.822 |
The loans from the related parties is Unsecured. The terms of repayment are not decided.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10301304 |
26/07/2011 * |
150,000,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, DISTRICT THANE, MAHARASHTRA - 421302, INDIA |
B19526227 |
|
2 |
10258166 |
23/11/2010 |
16,400,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B00992164 |
|
3 |
10174459 |
26/07/2011 * |
29,400,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, DISTRICT THANE, MAHARASHTRA - 421302, INDIA |
B18983833 |
|
4 |
10159152 |
26/07/2011 * |
24,700,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, DISTRICT THANE, MAHARASHTRA - 421302, INDIA |
B18983536 |
|
5 |
10105324 |
03/04/2008 |
12,500,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, THANE, MAHARASHTRA - 421302, INDIA |
A37869252 |
|
6 |
10102016 |
03/04/2008 |
15,000,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, THANE, MAHARASHTRA - 421302, INDIA |
A37869518 |
|
7 |
10063396 |
26/07/2011 * |
21,900,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, DISTRICT THANE, MAHARASHTRA - 421302, INDIA |
B18983346 |
|
8 |
10010124 |
26/07/2011 * |
12,000,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, DISTRICT THANE, MAHARASHTRA - 421302, INDIA |
B18983304 |
|
9 |
10010198 |
26/07/2011 * |
15,000,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, DISTRICT THANE, MAHARASHTRA - 421302, INDIA |
B19322361 |
|
10 |
90158475 |
21/01/2009 * |
5,814,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BLDG., PRABHU ALI, MANDAI, BHIWANDI, THANE, MAHARASHTRA - 421302, INDIA |
A58205725 |
|
11 |
90158304 |
21/01/2009 * |
6,931,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BLDG., PRABHU ALI, MANDAI, BHIWANDI, THANE, MAHARASHTRA - 421302, INDIA |
A58205287 |
|
12 |
80042093 |
29/01/2008 * |
124,945,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, THANE, MAHARASHTRA - 421302, INDIA |
A33720103 |
|
13 |
90158296 |
23/09/2004 * |
46,076,000.00 |
UNION BANK OF INDIA |
BHIWADI BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI PRABHU ALI ;MANDAI, THANE, MAHARASHTRA - 421302, INDIA |
- |
|
14 |
90157925 |
23/09/2004 * |
9,000,000.00 |
UNION BANK OF INDIA |
BHIWADI BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI PRABHU ALI ;MANDAI, THANE, MAHARASHTRA - 421302, INDIA |
- |
|
15 |
90157828 |
26/07/2011 * |
5,500,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, DISTRICT THANE, MAHARASHTRA - 421302, INDIA |
B18983221 |
|
16 |
90157823 |
23/09/2004 * |
5,000,000.00 |
UNION BANK OF INDIA |
BHIWADI BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI PRABHU ALI ;MANDAI, THANE, MAHARASHTRA - 421302, INDIA |
- |
|
17 |
90156661 |
14/08/1997 * |
4,500,000.00 |
UNION BANK OF INDIA |
BHIWADI BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI, THANE, MAHARASHTRA - 421302, INDIA |
- |
|
18 |
90156643 |
26/07/2011 * |
233,000,000.00 |
UNION BANK OF INDIA |
BHIWANDI BRANCH, GANPATI MANDIR BUILDING, PRABHUALI, MANDAI, BHIWANDI, DISTRICT THANE, MAHARASHTRA - 421302, INDIA |
B18983114 |
|
19 |
90156642 |
14/08/1997 * |
13,000,000.00 |
UNION BANK OF INDIA |
BHIWADI BRANCH; TRUST BUILDING 1ST FLOOR, BHIWANDI, THANE, MAHARASHTRA - 421302, INDIA |
- |
|
20 |
90156538 |
26/03/1997 |
2,000,000.00 |
THE MENON CO-0P. BANK LIMITED |
C A O PATEL SONY ARODE, 234; BELLASIS ROAD, MUMBAI, MAHARASHTRA - 400008, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Factory Building
· Plant and Equipment
· Furniture and Fixtures
· Motor Vehicles
· Office Equipment
· Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.06 |
|
|
1 |
Rs. 102.03 |
|
Euro |
1 |
Rs. 85.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.